World Perspectives

President’s FY 2025 Budget Request for USDA

While Congress is finishing the last six appropriations bills for FY 2024 (with a deadline of this Friday), President Biden submitted his FY 2025 budget proposal last week with few changes proposed to USDA’s budget.   Overall, USDA spending under the President’s request is $231 billion, down from the forecast $238 billion in FY 2024 and up from $229 billion in FY 2023. That request assumes current law, i.e., the 2018 farm bill. Mandatory spending is comprised of program funding, such as crop support, conservation, and nutrition programs. Discretionary spending is the annually appropriated funds that are for salaries and operating funds for the year. The breakdown of mandatory spending projected for FY 2025 is shown...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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